Posted 1/19/2024, 3:40:23 PM
AMD Stock Soars to Record Highs on AI Chip Optimism, Outpacing Rivals
- AMD stock hits record high, up 12% this week and 65% since October, outpacing rivals like Nvidia
- Investors see growth potential for AI-driven chips, expect multiple winners beyond just Nvidia
- Boosted by upbeat outlook for chipmakers like TSMC; sector rally shows AI enthusiasm still strong
- AMD trades at premium valuation of over 40x earnings, higher than Nvidia's 28x
- Risks ahead with lofty valuations, upcoming earnings reports will test growth outlooks for AMD, Nvidia